No-objection certificate for non-resident dividend and royalty remittances may be issued by assessing tax officers or the Board. No-objection certificates required by the Reserve Bank for remittance of dividends or royalties to non-residents may be obtained from the assessing ... Summary
No-objection certificate for non-resident dividend and royalty remittances may be issued by assessing tax officers or the Board.
No-objection certificates required by the Reserve Bank for remittance of dividends or royalties to non-residents may be obtained from the assessing Income-tax officer of the recipient; if jurisdiction over the recipient is not determined, the certificate may be obtained from the Income-tax officer assessing the payer or from the Board. Refusal by an Income-tax Officer to issue such certificates as lacking statutory provision is incorrect, and officers must be instructed to process requests expeditiously.
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